Payday lender Nimble Money has agreed to pull one of its infamous commercials, following criticisms that it “exploits” people in positions of financial hardship.
The ad in question features a man in a bunny suit creeping up on a dude in the shower after his hot water is cut off, and explaining that he can take out a payday loan to cover the bill.
ABC News report that the Consumer Action Law Centre have branded the commercial “irresponsible”, in light of the fact that utility companies offer financial hardship repayment plans to those struggling with bills.
Short-term and emergency loans for smaller amounts of money are a common phenomenon, but often come under scrutiny thanks to the high interest payments and fees attached.
Nimble have agreed to pull the ad in question at the end of the month, but a similar ad, involving a selfie-obsessed woman facing a high phone bill, has also been criticised.
“There are similar obligations for telco providers with hardship policies, and no-one should need to get a payday loan to pay a telco bill,” Gerard Brody of the CALC said.
In a statement to the ABC, Nimble said that its advertisements are “not meant to be taken literally” and that it “caps the interest and charges at 100 percent of the original loan” while refusing to lend to people on Centrelink.
Image vie YouTube
